27, November 2015

USD/CHF (a 4 hour chart)

USD/CHF (a 4 hour chart)

General overview

The Swiss franc came against the dollar. The Switzerland industrial orders report amounted to -5.1% vs. -2.4% previously. The Atlanta Federal Reserve Bank said about the US economic growth decrease in the fourth quarter from 2.3% to + 1.8% for the year. The decrease is connected with the consumer spending rate reduction from 3.1% to 2.2%.

The pair has stabilized. The price fixated above the support level of 1.0190.

The price is finding the first support at 1.0190, the next one is 1.0100. The price is finding the first resistance at 1.0280, the next one is at 1.0370.

There is a confirmed and a strong buy signal. The price is above the Cloud and it is above the Chinkou Span. The Tenkan-sen and the Kijun-sen show an upward movement shows. The upward movement will be until the price is above the Cloud.

The MACD indicator is in a positive territory. The price is growing.

Trading recommendations

We advise to long with the first target – 1.0280. When the pair consolidates above the first target, we can open deals to the level of 1.0370.